BPH Energy Limited (ASX:BPH) has informed about identification of different studies by its investee Advent Energy Limited from literature review of PEP 11 permit in the offshore Sydney Basin.
Following the key update, the stock of BPH Energy soared ~4.35 per cent higher to $0.024 as at 11:43 AM AEST.
PEP 11 literature review has revealed key studies performed by former tenement joint holders Santos and Ampolex, which offer support for the upside potential of offshore Sydney Basin holding PEP 11 permit.
The announcement primarily includes key highlights from Santos 1990 study - Geological and Geophysical Interpretation report for activities in Permit Year 1, comprising:
- the offshore Sydney Basin was prospective for gas
- 10 structural leads were discovered in 4 structural provinces with a combined potential gas- in- place of 1 TCF (Trillion Cubic Feet)
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